Due, Owing And Unpaid Legal Meaning and Definition
Here is a simplified definition of the legal term Due, Owing And Unpaid.
Due, Owing And Unpaid (adjective)
Referring to an outstanding financial obligation (financial debt) that is expected to be paid at a future date but has not yet been settled. These terms are often used in business and contractual agreements to denote funds that are legally owed, already matured, but still unpaid.
If you borrowed money and it's the agreed-upon due date, the money is 'due,' meaning it's time for you to pay it back. If you don't, the money becomes 'owing and unpaid,' meaning you owe the lender and haven't yet paid them back.